Almost half (44 per cent) of UK parents would gift more money to their children if the rules governing Inheritance Tax (IHT) were less confusing, a new study has revealed.
Value of inheritances to ‘more than double’ over next 20 years
The Resolution Foundation has estimated that so-called ‘millennials’ will benefit from an “inheritance boom” over the coming years, as the average value of estates passed on by parents and grandparents continues to rise.
Revised forecast suggests more families will be hit by Inheritance Tax
The Office for Budget Responsibility (OBR) has revised its Inheritance Tax (IHT) forecasts in a new report published alongside the Autumn Budget this week.
Often-overlooked tips for reducing Inheritance Tax
Britons are being advised to take note of the often-overlooked Inheritance Tax (IHT) exemptions and allowances available to them when it comes to gifting money, or passing down estates in their Wills.
Favourable Inheritance Tax changes for families
Progressive changes to Inheritance Tax (IHT) first introduced earlier this year will prove increasingly beneficial for families between now and 2020.